Spyker completed an agreement with China Automobile to export Saabs to China

Saab Automobile just marked another important corporate milestone today when they announced that an import agreement for their vehicles to enter China’s market has been signed with China Automobile Trading Co. LTD (CATC). This means that an existing memorandum of understanding (MOU), accomplished and announced in December 2010 with CATC, is now an official trade contract.

The agreement terms state that the CATC will act as Saab’s representative in facilitating the importation of Saab cars to China. A Saab national sales company in China will be set up. Afterwards, actual sales are projected to begin in September 2011.

CATC’s role is specifically to act officially as Saab China’s import arrangement coordinator, although over time, they will also become responsible for distribution and after-sales service – roles that are still currently being fulfilled by Shanghai GM. Saab China is expected to manage a network consisting of about ten dealers.

During the announcement, Jan Ake Jonsson, Saab Automobile CEO said that the CATC import agreement represents Saab Automobile’s commitment to renew their brand’s presence in mainland China. “I am confident that CATC will prove to be an exceptional partner for us in this highly important market.”

He adds that the company forecasts robust sales in what has become the world’s biggest automobile market because of the desirability of their vehicles to Chinese motorists. The introduction of the newest cars such as the 9-5 and 9-4X crossover, gives Saab the confidence to take advantage of the demand they anticipate in China for their vehicles that are known for prestige, performance and quality.

China Automobile Trading Co., Ltd. Chairman and President Ding Hongxiang stated that they are very happy to fulfil their role to ensure the renowned Saab brand’s revival in China. With the high-end vehicle market growing strongly in the last few years (featuring up to a triple-digit increase for the different manufacturers), new Saab vehicle lines “meet[s] the demands of Chinese customers and serve[s] key segments of the market, with both the 9-4X in the fast growing cross-over segment and the 9-5 showing great potential."

Press Release

Saab Automobile Signs Contract with CATC for China Import

In another milestone for the company, Saab Automobile today announced the formal signing of an agreement with China Automobile Trading Co. LTD (CATC) regarding the import of Saab vehicles for the Chinese market. The contract is the formalization of the memorandum of understanding (MOU) with CATC, which was signed and publicly announced in December 2010.

Under the agreement, CATC will, on behalf of Saab, import Saab cars to China. Official sales are expected to start in September 2011, after the establishment of a Saab national sales company. CATC will act as an official import service provider to this national sales company, which will eventually take over all distribution and after sales responsibilities from Shanghai GM, thus far responsible for Saab sales in China. Saab China will maintain a dealer network that is initially set to comprise around ten dealers.

Announcing the agreement, Saab Automobile CEO Jan Ake Jonsson said: "Signing this agreement with CATC is another sign of Saab Automobile's determination to re-establish the Saab brand in China. I am confident that CATC will prove to be an exceptional partner for us in this highly important market.

"We see strong sales potential in what is now the largest car market in the world and we believe our cars will appeal to Chinese customers. With exciting new cars like the new Saab 9-5 and the Saab 9-4X crossover vehicle, Saab can tap demand for high-quality premium vehicles in the Chinese market."

Ding Hongxiang, Chairman and President of China Automobile Trading Co., Ltd., commented: "We are pleased to be a partner of Saab in facilitating the return of this iconic premium brand to China. The premium import segment has shown rapid growth in recent years, with double to triple digit increases for the various brands. The new Saab product line-up meets the demands of Chinese customers and serves key segments of the market, with both the 9-4X in the fast growing cross-over segment and the 9-5 showing great potential."

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